About Closing Costs

"Closing Costs" are the fees that cover various services involved when you sell or buy a home. Sellers & buyers usually negotiate to decide how to share these costs.

As indicated below, many of the closing costs result from getting your mortgage. Since BeneGroup, Inc. is highly experienced with mortgages & closings, we often explain the details of closing costs.

The Loan Estimate (LE)

Soon after you submit your application, we'll give you a "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on BeneGroup, Inc.'s experience with mortgage loans, but costs often vary a little bit between the Loan Estimate (LE) and closing. We go over LEs with buyers almost every day, so we are happy to answer the you have about closing costs.

Below is a fairly generic list of costs for buying a home. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Costs related to "originating" your loan
• Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
• Appraisal Fee
• Getting Your Credit Report
• Interest Payment
• Escrow Fees
• Taxes

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood or Quake Insurance if applicable

At BeneGroup, Inc., we answer questions about closing costs every day. Call us at 4083956018.